NDTV contentions are ‘baseless and devoid of merit’, says Adani

Adani Enterprises said on Friday that the contentions raised by NDTV promoter company, RRPR, are “baseless, legally untenable and devoid of merit”.

RRPR is therefore bound to immediately perform its obligation and allot the equity shares as specified in the Warrant Exercise Notice, Adani Enterprises said in a filing with exchanges.

VCPL therefore does not agree with RRPR that prior written approval from SEBI is required for allotment of shares to VCPL on exercise of warrants.
RRPR is not a party to the SEBI Order dated November 27, 2020. Consequently, the restraints as pointed out by RRPR in paragraphs 111(b) and 112 of the SEBI Order do not apply to RRPR.